HC Wainwright Issues Positive Forecast for Amylyx Pharmaceuticals (NASDAQ:AMLX) Stock Price

Amylyx Pharmaceuticals (NASDAQ:AMLX) had its price target hoisted by research analysts at HC Wainwright from $12.00 to $16.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 247.07% from the company’s current price.

AMLX has been the subject of several other reports. Mizuho raised shares of Amylyx Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $3.00 to $7.00 in a research report on Monday, April 7th. Leerink Partners raised shares of Amylyx Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $4.00 to $10.00 in a report on Wednesday. Finally, Leerink Partnrs raised shares of Amylyx Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $9.67.

Amylyx Pharmaceuticals Stock Up 0.7 %

Shares of AMLX opened at $4.61 on Friday. The company has a 50 day moving average of $4.04 and a two-hundred day moving average of $4.22. Amylyx Pharmaceuticals has a twelve month low of $1.58 and a twelve month high of $7.27. The company has a market cap of $410.68 million, a price-to-earnings ratio of -1.21 and a beta of -0.60.

Amylyx Pharmaceuticals (NASDAQ:AMLX) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.03. On average, sell-side analysts expect that Amylyx Pharmaceuticals will post -2.2 EPS for the current year.

Insider Buying and Selling

In other Amylyx Pharmaceuticals news, CFO James M. Frates sold 10,896 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $3.47, for a total value of $37,809.12. Following the completion of the transaction, the chief financial officer now directly owns 290,988 shares of the company’s stock, valued at approximately $1,009,728.36. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bernhardt G. Zeiher bought 10,000 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were purchased at an average cost of $3.70 per share, with a total value of $37,000.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $37,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 48,980 shares of company stock valued at $168,627 over the last 90 days. Insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On Amylyx Pharmaceuticals

Large investors have recently bought and sold shares of the business. Blue Trust Inc. grew its stake in Amylyx Pharmaceuticals by 232.1% in the 4th quarter. Blue Trust Inc. now owns 6,987 shares of the company’s stock valued at $26,000 after acquiring an additional 4,883 shares during the period. Valeo Financial Advisors LLC acquired a new stake in shares of Amylyx Pharmaceuticals in the first quarter worth approximately $35,000. Fox Run Management L.L.C. purchased a new stake in shares of Amylyx Pharmaceuticals during the fourth quarter worth approximately $45,000. Alpine Global Management LLC purchased a new position in Amylyx Pharmaceuticals in the 4th quarter valued at $45,000. Finally, R Squared Ltd boosted its stake in Amylyx Pharmaceuticals by 99.9% during the 1st quarter. R Squared Ltd now owns 12,736 shares of the company’s stock worth $45,000 after purchasing an additional 6,366 shares during the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

About Amylyx Pharmaceuticals

Amylyx Pharmaceuticals, Inc, a commercial-stage biotechnology company, engages in the discovery and development of treatment for amyotrophic lateral sclerosis (ALS) and neurodegenerative diseases. The company's products include RELYVRIO, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of ALS in adults in the United States and marketed as ALBRIOZA for the treatment of ALS in Canada.